Yesterday, things were looking bleak for Russia’s Nord Stream 2 gas pipeline project. After months of insisting it didn’t want to get involved in the pipeline dispute, a French foreign ministry spokeswoman suddenly announced the country will support a European Commission proposal to make construction more difficult.

Then, just as suddenly, France changed its mind today at a meeting of energy ministers in Brussels – saying it had reached a “compromise” with Germany.

Mike Gleason: It is my privilege now to welcome in Dr. Chris Martenson of PeakProsperity.com, and author of the book Prosper! How to Prepare for the Future and Create a World Worth Inheriting. Chris is a commentator and a range of important topics such as global economics, financial markets, governmental policies, precious metals, and the importance of preparedness, among other things, and it’s always great to have him on with us.

Chris, welcome back, and thanks for joining us again.

Chris Martenson: Thank you. It’s a real pleasure to be back with you and all your listeners.

Mike Gleason: Well, Chris, when we spoke last in early November, we talked about the Fed printing money and expanding credit to prevent markets from correcting. The central planners there are always ready to intervene. At the time, equity markets were correcting and stock prices fell through the end of December. Officials must have then decided that enough was enough with all the selling because the Fed has very publicly signaled a change in course and instead of more rate hikes and more selling from the hordes of bonds accumulated during QE, the Fed is putting the brakes on tightening and looking to return to stimulus. Now the equity markets are off to their best start in something like 30 years. What do you make of the most recent intervention? Are they likely to get away with yet another round of bubble blowing here, Chris?

ITALEXIT: Italy to crash out of Euro and ‘rock EU to its foundations’
– Italy’s debt crisis will lead to default, exit from the euro, or both claims respected economist Bootle
– Italy has fallen back into recession with its economy shrinking by 0.2% in the last quarter
– “When Italy finally blows up, it will cause both a banking crisis that will shake the European economy and a political crisis that will rock the EU to its foundations”

Are you sick of your gold just sitting there when it was supposed to have long since made you rich? Have you been fantasizing about a world in which your gold really does make you rich?

If so you’re in good – or at least numerous – company.

So let’s sketch out such a world.

Start by envisioning an America in which a handful of oligopolies have captured banking, media, healthcare and several other important industries, while a tiny group of super-rich neo-aristocrats control as much wealth as the 200 million least-rich citizens.

– “World’s most dangerous hotspot” is in the South China Sea
– Currency and trade wars can lead to shooting wars warns Rickards
– Chinese buildup in South China Sea like ‘preparing for World War III’ says US senator (see news)
– U.S.-China shooting war could be, as Mick Jagger put it, “just a shot away…”

Chinese President Xi Jinping speaks after reviewing the Chinese People’s Liberation Army Navy fleet in the South China Sea on April 12. Xi has urged the PLAN to better prepare for combat, according to state media reports. (Li Gang/Xinhua via AP)